News Archive for: February 2015

Oil prices edged up after early falls on Monday as parts of Asia returned from the Lunar New Year holiday, with Brent futures moving further away from $60 a barrel and US contracts moving towards $51.
After early trading losses, both international Brent and US WTI crude futures edged up…

Oil markets edged up on Friday to halt a two-day decline, helped by expectations that data later in the day would show a continuing decline in the US oil rig count, a clear sign of the pressure the tumble in crude is putting on producers.
The Baker Hughes survey is…

Energy Minister Fergus Ewing has admitted he is worried that North Sea oil fields could be decommissioned prematurely.

He told MSPs at Holyrood yesterday that the UK Government needed to bring forward substantial tax reduction measures in the budget next month to persuade companies not to pull out of the…

China will have overtaken the US to become the largest single consumer of oil globally, according to oil major BP’s Energy Outlook 2035.

The company said ongoing economic expansion in Asia – particularly in China and India – will drive the continued growth for demand in the next two decades.

The…

Apache North Sea boss Jim House insists the UK oil and gas industry still has a bright future but he has also joined the growing clamour for Chancellor George Osborne to usher in new tax breaks.

Mr House, region vice-president and managing director at Apache North Sea (ANS), told the…